v3.24.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Disaggregation of Revenue by Major Source
The following table disaggregates our revenue by major source (in millions):
Year Ended December 31,
202420232022
Automotive sales$72,480 $78,509 $67,210 
Automotive regulatory credits2,763 1,790 1,776 
Energy generation and storage sales9,564 5,515 3,376 
Services and other10,534 8,319 6,091 
Total revenues from sales and services95,341 94,133 78,453 
Automotive leasing1,827 2,120 2,476 
Energy generation and storage leasing522 520 533 
Total revenues$97,690 $96,773 $81,462 
Schedule of Deferred Revenue Activity
Deferred revenue related to the access to our FSD (Supervised) features and their ongoing maintenance, internet connectivity, free Supercharging programs and over-the-air software updates primarily on automotive sales consisted of the following (in millions):
Year Ended December 31,
20242023
Deferred revenue — beginning of period$3,536 $2,913 
Additions1,343 1,201 
Net changes in liability for pre-existing contracts,
   including foreign exchange impact
(92)17 
Revenue recognized(1,188)(595)
Deferred revenue — end of period$3,599 $3,536 
Schedule of Net Income per Share of Common Stock Attributable to Common Stockholders
The following table presents the reconciliation of net income attributable to common stockholders to net income used in computing basic and diluted net income per share of common stock (in millions):
Year Ended December 31,
202420232022
Net income attributable to common stockholders$7,091 $14,997 $12,556 
Less: Buy-outs of noncontrolling interests(39)(2)(27)
Net income used in computing basic net income per share of common stock7,130 14,999 12,583 
Less: Dilutive convertible debt— — (1)
Net income used in computing diluted net income per share of common stock$7,130 $14,999 $12,584 
The following table presents the reconciliation of basic to diluted weighted average shares used in computing net income per share of common stock attributable to common stockholders (in millions):
Year Ended December 31,
202420232022
Weighted average shares used in computing net income per share of common stock, basic3,1973,1743,130
Add:
Stock-based awards292298310
Convertible senior notes123
Warrants81132
Weighted average shares used in computing net income per share of common stock, diluted3,4983,4853,475
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following table presents the potentially dilutive shares that were excluded from the computation of diluted net income per share of common stock attributable to common stockholders, because their effect was anti-dilutive (in millions):
Year Ended December 31,
202420232022
Stock-based awards15124
Schedule of Cash and Cash Equivalents and Restricted Cash
Our total cash and cash equivalents and restricted cash, as presented in the consolidated statements of cash flows, was as follows (in millions):
December 31,
2024		December 31,
2023		December 31,
2022
Cash and cash equivalents$16,139 $16,398 $16,253 
Restricted cash included in prepaid expenses and other current assets494 543 294 
Restricted cash included in other non-current assets404 248 377 
Total as presented in the consolidated statements of cash flows$17,037 $17,189 $16,924 
Schedule of Estimated Useful Lives of Related Assets
Property, plant and equipment, net, including leasehold improvements, are recognized at cost less accumulated depreciation. Depreciation is generally computed using the straight-line method over the estimated useful lives of the respective assets, as follows:
Machinery, equipment, vehicles and office furniture
3 to 15 years
Tooling
4 to 7 years
Building and building improvements
15 to 30 years
Computer equipment and software
3 to 6 years
AI infrastructure
5 to 30 years
Schedule of Accrued Warranty Activity Accrued warranty activity consisted of the following (in millions):
Year Ended December 31,
202420232022
Accrued warranty—beginning of period$5,152 $3,505 $2,101 
Warranty costs incurred(1,453)(1,225)(803)
Net changes in liability for pre-existing warranties, including expirations and foreign exchange impact287 539 522 
Provision for warranty2,730 2,333 1,685 
Accrued warranty—end of period$6,716 $5,152 $3,505 
Schedule of Operations for the Adoption of the ASU The cumulative effect of the changes made on our January 1, 2024 consolidated balance sheet for the adoption of the new crypto assets standard was as follows (in millions):
Balances at
 December 31, 2023		Adjustments from Adoption of the New Crypto Assets StandardBalances at
 January 1, 2024
Assets
Digital assets, net$184 $303 $487 
Deferred tax assets6,733 (67)6,666 
Stockholders' equity
Retained earnings27,882 236 28,118